UCF EEL 4914 - EEL 4914 Exam on Economics (4 pages)

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EEL 4914 Exam on Economics



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EEL 4914 Exam on Economics

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Pages:
4
School:
University of Central Florida
Course:
Eel 4914 - Senior Design I
Senior Design I Documents

Unformatted text preview:

EEL 4914 Exam on Economics 2 Dr Fernando Gonzalez Spring 2003 group NAME For each question you must provide a solution that has the following form A A A A A A A 1 0 06 7 1 F 500 4 196 92 0 06 F You must show the graph and the equations 1 You decide to save 600 per month every month until you retire in 30 years You invest this money and earn an average of 6 per year compounded monthly How much will you have saved when you retire 2 You did a good job so your boss decides to give you a 5 000 raise to your yearly salary Assume you work for another 30 years at this company and receive a 3 raise every year to compensate for inflation If my personal investment interest rate is 6 per year compounded yearly what is the total amount of money that this raise represents over the 30 years 3 A company wants to increase its profit and is considering buying a machine It uses an interest rate of 5 Which machine if any should the company purchase Machine A cost 70 gives an annual benefit of 30 and has a 20 salvage value after its 2 year life Machine B cost 100 gives an annual benefit of 32 and has a 25 salvage value after its 3 year life 4 Compute A The periodic interest is 12 24 000 18 000 12 000 6 000 A A



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